Category: #Finance
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EFCC ROLLS OUT ENHANCED DIGITAL FORENSIC TOOLS, EDUCATION TO FIGHT ECONOMIC CRIMES AND BOOST PRODUCTIVITY
The Economic and Financial Crimes Commission (EFCC) is stepping up with advanced digital forensic technology, broader public education, and stricter compliance frameworks to tackle emerging economic crimes and improve Nigeria’s productivity. EFCC Chairman Mr. Olanipekun Olukoyede highlighted these initiatives at the WorldStage Economic Summit 2025 in Lagos, focusing on the need to curb threats such…
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WORLD BANK TO INVEST $500M IN GOMBE’S IRRIGATION PROJECT TO BOOST FOOD SECURITY AND CLIMATE RESILIENCE
The World Bank plans to invest in Gombe State’s irrigation system as part of the $500 million Sustainable Power and Irrigation for Nigeria (SPIN) project, aiming to strengthen food security, water management, and climate resilience. Chakib Jenane, the Bank’s Regional Director for Sustainable Development in Western and Central Africa, emphasized the commitment following a visit…
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FAAC SHARES N2.09 TRILLION OCTOBER REVENUE, NIGERIANS DEMAND TRANSPARENCY AND IMPACT
The Federation Account Allocation Committee (FAAC) distributed N2.094 trillion among Nigeria’s federal, state, and local governments from October 2025 revenue. The announcement by Accountant-General Shamsudeen Ogunjimi came after the November FAAC meeting, with funds from statutory revenue, VAT, and the Electronic Money Transfer Levy (EMTL). Breakdown: Federal Government received N758.405 billion, States N689.120 billion, Local…
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FCTA SET TO CRACK DOWN ON PROPERTY FEE DEFAULTERS FROM NOVEMBER 26
The Federal Capital Territory Administration (FCTA) will begin enforcement actions against defaulters of Ground Rent, Land Use Change/Conversion fees, and Right of Occupancy (R-of-O) and Certificate of Occupancy (C-of-O) bills starting November 26, 2025. Senior Special Assistant to the FCT Minister, Lere Olayinka, announced that this move follows the expiry of multiple grace periods granted…
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FCTA TO ENFORCE PAYMENT OF GROUND RENT AND LAND USE FEES FROM NOVEMBER 26
Starting November 26, the Federal Capital Territory Administration (FCTA) is kicking into gear to enforce payments from defaulters owing Ground Rent, Land Use Change/Conversion fees, and bills for Right of Occupancy (R-of-O) and Certificate of Occupancy (C-of-O). This includes property buyers who haven’t registered interests with the mandatory Minister’s Consent or completed Deeds of Assignment.…
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NIGERIAN STOCK MARKET SLIPS AS MARKET CAP FALLS BY N1.17 TRILLION
The equities market kicked off the week on a downbeat note, with market capitalisation dropping by N1.173 trillion, or 1.26%, on Monday. Profit-taking in major stocks like Dangote Cement, Enamelware, Transcorp Power, AIICO Insurance, and Guinea Insurance weighed heavily on the market. Market cap closed at N92.328 trillion, down from its opening value of N93.501…
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NIGERIAN SENATE APPROVES PRESIDENT TINUBU’S N1.15 TRILLION DOMESTIC LOAN FOR 2025 BUDGET DEFICIT
The Nigerian Senate on Wednesday greenlit President Bola Tinubu’s request to borrow N1.15 trillion from the domestic debt market to finance the deficit in the 2025 budget. This approval came after the Senate Committee on Local and Foreign Debts, led by Vice Chairman Sen. Manu Haruna, presented a detailed report outlining the need for the…
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NIGERIA TAKES STRONG STEP WITH 15% TAX ON IMPORTED PETROL AND DIESEL TO BOOST LOCAL REFINING
Enugu Chamber of Commerce, Industry, Mines and Agriculture (ECCIMA) has praised the Federal Government’s decision to impose a 15% import tax on petrol and diesel, calling it a move that will grow the economy, promote local production, and create jobs for youth. ECCIMA President Sir Odeiga Jideonwo highlighted the negative impact of excessive importation on…
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NIGERIA CUSTOMS SERVICE KADUNA COMMAND HITS RECORD ₦5.16 BILLION REVENUE IN OCTOBER 2025
The Nigeria Customs Service (NCS), Kaduna Area Command, has scored its highest-ever monthly revenue by generating ₦5.16 billion in October 2025—an impressive 96% above its target and 196% target performance. The command’s Public Relations Officer, CSC Ridwan Yusuf, announced this milestone reflecting a 61.89% year-on-year increase compared to the ₦24.06 billion collected from January to…
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NIGERIAN STOCK MARKET RECORDS 4TH CONSECUTIVE LOSS, INVESTORS LOSE N348 BILLION
The Nigerian equities market slumped for the fourth straight session on Thursday, resulting in a staggering loss of N348 billion for investors. Key stock selloffs including Legend Internet, Champion Breweries, and Tantalizer triggered a 0.36% dip in market capitalisation, which closed at N95.316 trillion compared to an opening of N95.664 trillion. The All-Share Index similarly…
